Monday, August 3, 2009
New NSP Down Payment Assistance Program
Lyon County is offering deferred loans to assist homebuyers through the Neighborhood Stabilization Program (NSP), which is part of the federal bailout program. The program is available to help homebuyers purchase bank-owned homes in zip code areas 89403 (Dayton) and 89408 (Fernley).
These loans are interest-free silent second mortgages that require no monthly payments. The loan is due only upon sale, transfer of title, refinance with cash out, or when the home ceases to serve as a primary residence.
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